OTTAWA (Reuters) - Canada’s composite leading indicator rose by 0.2 percent in July, with six of the 10 components advancing, Statistics Canada said on Thursday.
June’s index rise was revised down to 0.1 percent from 0.2 percent. A median survey of analysts had forecast a 0.1 percent rise for July.
“In particular, household demand was firm, reflecting the steady gains in the trend of employment,” the federal agency said. “These gains were partly offset by declines in the stock market.”
The index is used as a predictor of future economic trends. The unsmoothed index, reflecting raw data, was up 0.5 percent following a 1.7 percent decline in June.
Reporting by Randall Palmer